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    September 4, 2012
    4:00 - 5:00pm EDT  

, and in that is going into the s&p 500. liz: we should mention amazon. right now. it is slightly down, new all-time high. it looks like a bite out of netflix business. >> reporter: more highs. they get used to it. david: no matter how you say it, and still negative. liz: the little guys in the technology moving higher as the bell rings on wall street. let's see, specifically the dow jones industrials. moving down 113 points. the s&p, while down one point, down more than seven. so you did see some real replacement coming back up. david: the small and midsize companies represented in the russell. that is down big time. one 1/4%. excuse me.
that is up big-time. good news with the bat. a split decision. we'll take it. the bell rings, the action begins. all of today's action coverage. we have the street. talking bears and bulls. everyone has their own opinion. we put both of them together. liz: the s&p 2,000, is that on the way? wait until you find that the perspective of one guest. former department of congress to of commerce secretary joining us on "after the bell" as an economic adviser to mitt romney. he will break down how the presidential candidate plan to create 12 million jobs. david: first, we'll tell you what drove the market with today's data download. a mixed bag with the of only index ending higher, telecom and consumer staples, the top performers, as we mentioned. russell 2000 was also higher. materials was the day's biggest lagger. adelle had been down more than 100 points in earlier trading.
gold, do you see what happened? surging two of 5-month high on hopes of more action from global central banks when the print more money, more cash, more currency, the price of gold goes up. the precious metal pushed past $1,700 an ounce before falling ahead of the closed. manufacturing activity dropped for the third month in a row in august falling to 49. weak consumer spending, and the decline of business orders for large machinery. liz: in the pits of the chicago mercantile exchange. they are ready to duke it out in our street fight. let's start with larry at the cme. the first thing i saw this morning very early, one of those of you were sleeping issues. the european central bank indicated, or at least there was a leak of some sort as there always is, there might be some bond buying trend that people were waiting for, on the shorter data parts of the european, but the market read that as it will be saved.
did not at all. >> it did not. i think everybody is waiting to see what that is. you simply cannot deny that right now the very divisive -- decisive time with your. i mean, are they going to come up with a blueprint or will there be more distractions, more we don't know. we don't know what's going to happen. it seems like we priced it. it will do some things, but we need a road map, and i think that is why we have been on all in the stock market for the past four weeks. david: well, that is this thursday. next thursday we have our own central bank coming in with its decision as to whether it will do something. i'm wondering, since over the long weekend the market can't absorb the fact that there was going to be something. that seems to be a consensus, there will be some kind of action taken. does that mean it does not matter what the fed does, the market kind of price to all in there? >> it seems like the market has. before this past friday the odds of something happening, just
about 50%. since that time the odds have risen 60-70 percent, maybe extending. we don't know, but it seems like right now at least from the traders that talks behind me, nobody seems to care right now unless it is something very explosive, and that seems to be an ally right now. liz: are you also hearing the narrative that we often hear from the floor of the trading action, specifically the shuttle mark and the new york stock exchange but the friday's jobs report. that is what people are waiting on, but sometimes you hear more chatter. strong are not so much? >> it's not really that much. i mean, speaking of the jobs report, the bar has been set very low. this tree seems to be modeling in, 127,000. that is horrible. on top of our manufacturing. we have contacted three months in a row. i honestly think we are in trouble. i don't think the stock market to my would just eliminate some
rest. david: larry, we will see you in a couple of minutes. good to see you. so, let's give a straight to our street by for the bowls. craig johnson, market strategist and for the bears, matt total from total wealth management, the ceo. good to see you. let me get to you first. you have some -- now, it wasn't too long ago that you were bearish. you turned around, but let's just put up your predictions. i think it's nothing less than extraordinary. you think there could be a 30% rise of the next 24 months. you see it climbing. what gives you such a bullish sentiment? where does that come from jack. >> we think conditions are right at this point in time for the market to finally break topside of 1550. we have been stuck in a secular bear market for 12 years, and the market is handling a lot of
bad news very well. the market, the trend is up in the market is handling a lot of bad news very well and continues to grind higher. even here at the end of the day we saw small mid cap stocks do very well. it appears to be that things are acting well and we see a lot of good news. we will finally get that topside breakout. liz: i don't know if you just heard, but he said, would not be in stocks right now. i am presuming you disagree. >> i absolutely would be buying stocks. negative psychology is so high at this point in time. we have to realize that looking back in time, 1995 when all we saw working with blue-chip stocks, then in brighton in the secondary. big bull market rally sparked. there is exactly what we're seeing once again. history does not always repeat itself, but it does, and is starting to happen once again. david: let's go right to the street.
what do you think up. >> production? >> well, i think he's wrong. we are looking at the potential for the s&p 500 by the end of the year, may be retouched june lows. and, i mean, really the next couple of weeks, a lot of stuff happening that has the potential to disappoint. three things that really concern us more than anything. first and obviously, europe. that has not been fixed. so what you see is in the absence of news out of europe the market rallies because there's nowhere else to put money with interest rates as low every single time we rally europe comes up and bites us. the second thing that we are looking at is the fiscal cliff. we are heading for it, and i don't see any real political will to stop that. let's say we fix those things, the fix is austerity on a global scale which is of lowering gdp across the board. so it's really bad news and bad
news. david: none of what you say is wrong. liz: i look and see that over the past nine months that is exactly what people have been talking about. watch out for this, this command this. what about that whole climbing the wall? i mean, you don't want to miss out on an opportunity. if really you have been negative you have missed out. >> you don't want to miss out on an opportunity, but you need to be tactical. dynamic. liz: what would you buy? >> right now one of our most favorite things is gold. we started buying. we will be buying more. if you want to be in the market from the things i would look at, you know, i have no problem playing the bubbles of you're going to be dynamic, things like apple. david: we have a milestone, not a great one. it plays right hand. breaking news. look at this. the u.s. debt has now topped 16 chilean dollars for the first time.
of course, the republican national convention had that debt clock a pair. they were kind of hoping it would happen on their watch. it didn't. it misted by a couple of days. 16 trillion. as bullish as you are, when you look at that figure, doesn't it give you the heebie-jeebies? >> it really doesn't. i know that altman the we're going to work our way out of that by growing our way out. we discount bad news once, not twice, not three times. there really isn't anything new coming appear from the eurozone are the fiscal cliff. these are all known issues that have been out there for a while. the market has discounted these issues, and if we can chip away at removing some of this overhang from the market, we're going to see the multiple. this is fundamental, the multiple of the market will expand and this will work. i can tell you right now that not many investors are thinking that this can work, and they're is a lot of negative psychology. to me this surprises to the
upside, and the economic data has been incrementally getting better, worse. liz: what would force you or encourage you to change to becoming more of a bull? >> well, i certainly want to see with the ecb, want to see what the fed is doing. i want to see the market continued to move upward at some point. you have to look at the turn and say it is in an uptrend, and you have to buy it. those are the things odontocetes david: by the way, for the record, google, amazon. thank you. good stuff. appreciate it. on your watch. $16 trillion. liz: you're very proud. what is at stake for the financial markets? well, former hedge fund manager and white house economic adviser. david: all right. also, much has been said about mitt romney's lack of details when it comes to his economic
plan, even republicans are complaining about this. well, carlos gutierrez, a former commerce secretary, mitt romney's economic adviser joins us with details about how the president took into the does plan to create or at least provide an environment in which 12 million new jobs will be created. liz: here is something you might never have thought you would hear. mcdonald's is going vegetarian. details in today's speed read. stay tuned. [ male announcer ] what if you had thermal night-vision goggles, like in a special opsission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep,
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liz: s&p futures closing. let's go back to larry at the cme. i, larry. larry continue his arrest? >> i can hear you. liz: how is it looking? >> traders are burying their risk right now. too many unknowns. conditions in the collateral standards, transmission risks, all of the above. too many unknowns. it is nice to consolidate, but
people are paring risk. that's what's going on behind me right this very minute. david: just to clarify, screaming behind you is selling right now. >> exactly. liz: thank you. it was so loud. that is a little unusual. you know is loud. david: well, shares of u.s. home builders having a strong day despite a weak report of construction spending. liz: that set back to nicole petallides on the floor of the new york stock exchange. pep boys, for example. >> reporter: we have been watching waiting for numbers to come out. we're also taking a look at a separate, the home builders on the heels of construction spending numbers. we are really not that good. homebuilders share resiliency. the biggest decline in a year. that was not good news. home builders. up arrows. and then up almost 8%. the group has been resilient.
forty, 50, 60, 70% year-to-date. not too loud here, like it was for larry. a busy day on wall street. david: thank you very much. liz: u.s. construction spending fell in july by the largest number in a year. we have somebody who says, pay no attention to that. we are already passed the housing bottom and it set to ride the wave buys to have higher. joining me now, i h s chief economist. you're bullish, but you are a little lukewarm about the entire economy. let's start with the good stuff first, particularly housing. we have hit a bottom, because i'm more inclined to listen to you the name of home builders are hoping for a bottom. >> you have to be a little careful about the optimism within the industry, but if you look at a lot of the numbers coming out, the number of foreclosures, you look at the housing activity, home sales, home prices. they're all starting to look better than they did a year ago.
so we have come up come but the recovery is still fairly weak, even in housing. the good news, it's no longer a drag on the economy and it is improving. liz: though many -- so many things i want to take off quickly for you. what are you expecting? and number two, barry just said traders are not focusing because the bar is a solo. >> that's right. we don't expect a great number. it will be about 130,000. stuck at 83. so, you know, it's not bad, but it's not great either. in that sense, the market will shrug it off. liz: jackson hole. everyone was waiting on bernanke. signifying not much until next week when they actually have a meeting. what happens? will we seek quantitative easing? >> is sure looks like it. as think bernanke and the others have set the stage for doing another round, five,
600 billion, something in that order of magnitude. liz: what will that do for the market and psychology? there was some question, not according to bernanke, but others, one and two did not do that much. what with three do? we know traders of love it, but. >> we won't get that big of a bump. the way to look at it, an insurance policy, things don't get worse. that is the way i think of these various rows of quantitative easing. it is a way, given that we don't have anything else that we can do, it's just a way of preventing banks from getting worse. liz: putting out many data points, and he said, one of the things that he said, one of the quantitative easing programs or maybe all of them have raised the level of output by nearly 3% what is your assessment? >> well, i'm not going to debate with the chairman or the bed. i will say we are not as upbeat about the impact of it has had.
that is a big impact. i'd say it has some, largely by lowering long-term interest rates, borrowing costs. it did help to weaken the dollar . there was an impact from and positive impact. none of inflation. it's all positive, but small. liz: anybody refinancing a home or modifying a mortgage like it. and you have downgraded your gdp, lowered your second half of one and half from two. that almost looks sclerotic. does it stop? >> that's a good word. you know, i think what is happening is we are losing momentum. a lot of waiting and seeing going on. this is waiting to see what happens with the fiscal cliff. we were talking about that earlier. waiting to see. a lot of that's going on. liz: good to see you. thank you so much.
usually very bullish. we hit a bottom in housing. david: a good man. thank you. the democrats' turn to make their case for the white house. the democratic national convention. we are live from dnc headquarters in charlotte. liz: former hedge fund manager joining the party here. we can fix this economy by returning to being a nation of born to run. he will explain that next. hmm, it says here that cheerios helps lower cholesterol
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liz: peter barnes live at the heart of the action in charlotte , and he's joining us now. >> reporter: below. the delegates all starting to arrive here in the time warner arena, and the proceedings formally get underway in just over 30 minutes from now, but i have to tell you, a lot of these delegates are celebrating. i'm sitting right in front of the louisiana delegation. the state went through that horrible hurricane last week, so these delegates have been having a good time. they're all dressed up in red, white, and blues singing, when the saints come marching in. they change the words to when obama goes marching in. the president himself was marching to virginia, wrapping up his herd to charlotte to work. key swing states ending up in norfolk, virginia. keeping of the criticism of mitt romney. >> my opponent had the chance to offer his secret sauce.
he did not offer a single new idea. it was just the same old policy that has been sticking it to the middle-class for years. >> reporter: michele obama will be the first big headliner of the convention tonight. she will speak to the nation about the president as a husband, father, an advocate of the middle-class. look. david: have fun. it sounds like they are. >> reporter: i'm going to. going to go down here with the delegation. liz: they have been having a great time. and we are covering every inch of that, just as we did the republican convention. election day just about two months away. your money could very much be at stake. one former head fund manager sees to issues that could affect the financial markets. david: a former white house
economic advisor for the first president bush. author of the book rush, why we thrive in the rat race. good to see you. thank you for coming in. before we get to specifics, is there anything, is that democratic convention begins, is there anything that the democrats could say or promise that might make, particularly small business owners, little less skittish, little more likely to invest in their business, hire more people. >> well, of course. right now this fiscal cliff that president obama seems rather comfortable with is going to jack up tax rates on investors and on small businesses. the capital gains rate is going to go up by about 50%. the dividend's tax rates going to go up by 250 or 300 to 300%. it president obama's said, you know what, now may not be a good time to raise taxes on small businesses and investors. i would be quite happy to year
that. i don't expect it, but i'm waiting. liz: we just showed becoming a born to run nation and some of the points he said we need to embrace. yet, if we don't use a -- entry tot this was very interesting -- we will become a born to sit nation. more active propulsion coming from people, not just expecting the government to do everything, get people excited. what is wrong with our nation? have we become spoiled? >> i don't notice boyle this the right word, but we have certainly become discouraged and dispirited. delicate the white house sent the president obama is running the angry birds economy. you look at the white house and the administration and regulators and tax records. they look like they just want to launch missiles or laws themselves up businesses. they like it businesses and see them as some sort of greek. you cannot be in favor of investment and against investors and against business.
in terms of born to run, born to said, there are discouraging signs in this country. young people especially, far less likely to move to another state to accept a job than they had been in past generations. that is why we see certain states like north dakota, for instance or vermont that have very, very low unemployment rates, not seeing a flood of refugees from high unemployment states coming there to take those jobs. empire generations, prior recoveries that took place. right now it seems americans are sadly more content or at least more likely to be sitting on and crumbling as opposed to taking action. i wish the president would encourage people to move and take action as opposed to waiting for handouts. david: frankly, the money has been coming in for a long time. the president gave the 99 weeks of unemployment insurance. a lot of other government programs that seem to be delaying the inevitable, which is that some people should not
have been house to begin with. the over sent to the overspent. eventually as government programs run out and people's wallets begin to get thinner and thinner and parents began to get more and more fed up with the kids still living there or vice versa, what that movement, that historic movement began to happen? >> eventually. would it be better if it happened sooner? amin, most -- the conventional view of economists and federal reserve board studies say that 99 weeks of unemployment added to the unemployment rate at least one percentage point. over 8 percent unemployment contradicting million americans, and some of that is because we have 3 million job openings and not enough takers. sure, there may be a mismatch of skills, but there seems to be a mismatch motivation. liz: one thing, and we don't want to look mismatched. corporate profits as the president took over are up 63%. and the s&p 500, for example, up
65%. there are positive signs through all of this, and yet there seems to be at disinclination to really embrace that. is that all because -- and we will talk about the skimming of, the fact that we still have millions and employed? and would that solve much of our problem? >> well, you are certainly right. corporate profits to be night. the s&p is, you know, rebounding although if you look over 20 years or ten years to my should say, it is not all that impressive. corporate profits, money is there. business investment has been the weakest link in the economy. right now on the sales are not too bad. restaurant sales are not too bad. consumers are showing composure. businesses seem very sour. and why not? if you thought that the capital gains tax rate and the dividend tax rate was either going to go up to summer between 50 and 300 percent, you might be a little reluctance to spend money as well. we have to ask ourselves, is the
united states of america right now and environment that welcomes business and welcomes risk-taking? and when you look at new regulations and when you look at the antagonistic view of so many folks in washington for the pharmaceutical industry, the hmo industry, the banking sector, the energy sector, before you know what they are like that turn on a tank. eventually aiming at every single industry except the solar industry. if you are importing solar panels and china your being in debt as well. david:, former white house economic adviser. thank you. he is author of why we thrive in the rat race, also head of the tiger hedge fund. well, mitt romney promises that his policies will help create 12 million jobs. there are not a lot of specifics immoral least there were not allowed given in the republican convention. how will it be done? carlos gutierrez tells us in a detailed plan coming next.
liz: sending out invitations for a big event next week. what new products could detect and reveal? it might be in the shadow. that story ahead on "after the bell." [ owner ] i need to expand to meet the needs my growing business. but how am i going to fund it? and i have to find a way to manage my cash flow better. [ female announcer ] our wells fargo bankers are here to listen, offer guidance and provide you with options tailored to your business. we've loaned more money to small businesses
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and, using state-of-the-art monitoring technologies, rigorous practices help ensure our operations are safe and clean for our communities and the environment. we're america's natural gas. liz: time for a quick speed read of some of the day's other headlines a newmont a clean slate. let's go. five stories one minute. first up merck plans to cut 1100 jobs in germany 2015. the cuts will be accompanied by a $360 million investment in research and development. apple formally sending out invitation for a news event on september 12th. analysts expect the company to unveil its next generation iphone 5 at the event. recent reports indicate we won't get however any word on a mini ipad. amazon adds 3,000 movies to its prime tv service deal
by signing a deal with epics. mcdonald's, ready, plans to open its first ever vegetarian only restaurant. the therry will be located in india. a country where the fast-food chain currently has 270 outlets. >> research by scientists in stand ford says organic food has no health better advantage than nonorganic. produce. [buzzer] that is today's speed read. did i get that. that is part of it. so i got the whole thing in, right. david: you threw in a couple of little ad-libs. they kind of stretched it a little bit. liz: yes, no, maybe. we don't know. we'll find out tomorrow. david: the dnc kicking off today where president obama will get the chance to tell the american people how he plans to fix the economy. with nine weeks until the election some critics are saying mitt romney economic plan failed to deliver specifics last week at
republican convention. joining me is former secretary of commerce and romney advisor carlos gutierrez. good to see you, carlos. thanks for coming in. >> pleasure. david: we're not just talking about the -- you expect the democrats to criticize republicans but "the wall street journal" editorial page was out on saturday and here's what they said about specifics in the republican campaign. said neither romney nor the entire gop convention made a case for their economic agenda. they promised to help the middle class but never explained except how in passing they would do it. do you agree? >> i think that criticism is unfounded. the governor presented a five-point plan at the convention. this is a five-point plan that he will execute relentlessly. number one, energy independence. we can be the saudi arabia of natural gas in the a ebb did qaed. but we're just not pursuing
it. the only thing we're pursue something solar and wind gets you this much of what we need to do. stop punishing coal. explore for more oil. everything that we've got. we just discovered we have massive amounts of natural gas but since it is a fossil fuel, the president doesn't want to pursue it. number two skills to succeed. we need to give parents more school choice. we need to give every family the chance for the best teachers possible, in the best schools possible. we also need to attract people from around the world. we've got companies today, billing their r and d centers overseas because they can't bring in engineers or ph.ds from other country. we haven't had one new free-trade agreement during this administration. we are losing ground. there are 100 agreement being netted. the president is negotiating one. david: we could go through
all five but we're running out of tile. i want to focus on one that the "wall street journal" specifies that was light on specs. that is the tax overhaul. democrats and republicans both agree we need a tax overhaul, but republicans up to now seemed to have a relatively clear proposal and lowering tax rates and getting rid of some deductions for the wealthy. there wasn't a mention of that or specifics of that by the republicans last week. >> okay. i want to say there is a five-point. there is a very good plan. a solid plan and it will create jobs. on taxes. let me say something because this is important, i'm glad you asked. everybody is hearing that somehow we're going to raise taxes on the middle class and reduce taxes on the wealthy. that is false. that was some kind of an early study by the tax policy center. they backtracked. they issued a clarification. but that doesn't matter.
the democrats continue to use that. governor romney will reform taxes. he will not raise taxes. david: how, carlos? how, specifically. give us an example. the tax code, you know this, carlos, very well as former head of a huge multinational company. you have to be specific with customers. tell them what the ingredients are. kellogg's, couldn't have sold the kellogg's morning cereals if you don't have the ingredients. we don't have the ingredients of the tax plan. shouldn't we know the ingreed cents before the election. >> you should know the direction. as former ceo you set a direction, set a strategy and spend hours and hours and hours on the details. the governor has talked about tax reform where we're closing loopholes. no increase on the middle class. and, importantly, today, the 1% of the population that everyone likes to talk about, they pay about 39.7% of
taxes. that will not move. so this idea that we're going to raise taxes on the middle class and lower on the wealthy is false. the american people are being given advertising that is false. and i find that incredibly --. david: i will throw this out there, carlos. maybe if you had more specifics precisely how you would lower the tax rates on every level you would give the opposition less of a chance to come out with that interpretation. >> but, specifically, what they should know is that this idea that we're going to raise taxes on the middle class and reduce taxes on the wealthy is false. and america should know that. david: carlos gutierrez, great to see you as always. please come back and see us again. >> pleasure. david: appreciate that. liz? liz: from stocks to housing to jobs are americans better off than they were four years ago? liz mcdonald crunching the numbers for you. that is next.
>> i'm robert gray with your fox business brief. stocks were mixed at the closing bell. this after speculation over apple's next iphone launch counter addition pointing report showing manufacturing activity in august shrank for a third straight month. at closing bell the dow was down 55 points. the nasdaq was higher. epics movie channel expects to make more deals with online players after negotiate agreement with amazon. there aren't any deals set for the immediate future epix's chief executive expects there to be more down the road. pepsico seeing a stronger dollar having unfavorable impact about three percentage points on its core earnings this year. that is the latest from the fox business network, giving you the power to prosper
david: the question whether americans are better off today than they were four years ago is at the forefront of this year's election. liz: from housing to jobs to the markets, liz macdonald has been combing through the numbers. she joins us now. liz. >> yeah, this is sort of like the debate are you better off or could have been worse recovery. the numbers looking at for the markets the dow is up 57% as you reported. corporate profits up 63%. nasdaq almost doubling but when it comes to personal individual americans they have to say, hey, wait a minute, 8% plus unemployment for the last 42 months. you see the corporate profits recovery. but that profit recovery is not showing up on the personal level. we know 31% of mortgages are still underwater. we know house prices though are slightly coming back. the first year to year increase since 2006 when you knock out the government tax credit. the bottom line, net job losses. 316,000 net job losses.
truly a jobless recovery sips the president took office. that is the way to look at it by the way. david: if you look at the corporate profits distinguish between the bottom line and top line. revenue follows those corporate profits come from cutting expenses rather than from increase in revenue. >> cutting into the muscle and job losses meaning creating layoffs. the stock market is across across the board and across the board as fed balance sheet tripled and the deficit about to surpass 16 trillion buck. >> you've seen a lot of mortgage refinancing lately at historic rates. thanks very much, liz macdonald. high pressure from online retailers forcing some brick-and-mortar stores to drop excess fees. we've got details next. david: a u.s. casino setting a brand new record over the weekend and has nothing to do with gambling. we have that story when we go "off the desk". that is ahead on "after the bell." ♪ you see us, at the start of the day.
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liz: so a number of retailers are expanding
their layaway programs for christmas seasoners fox's adam shapiro is covering this. is this a sign that they're worried in the future. >> that is a good question. it looks like a sign they're worried but the national retail federation, 40% of the americans, start shopping, get ready, start shopping for holiday gifts, christmas hanukkah, all the holiday gifts well before halloween. perhaps they're a little worried but trying to get 40% in their stores now. you have places like toys "r" us. we have video of the giant giraffe, jeffrey, offering a deal if you buy up until now halloween, you don't pay the $5 layaway fee. you get access to discounts, buy-one-get-one-free offering. this is a way they have to compete against online retailers. they have online action as well. wal-mart today reversed the decision. they will triple their layaway fee and they decided to roll that back. they're doing this to take
advantage of 40% who are shopping already, believe it or not with more than 100 days until christmas for the holidays. back to you. liz: thank you, adam shapiro. holidays already. we have to think about that. david: we have numbers that could move your money tomorrow. if you care about your money, and who doesn't, stay tuned for tomorrow's trades today. that is next. liz: after a surprise speech by clint eastwood at the r in. c, a new on line petition to urge the dnc to book their own celebrity. we'll tell you who they think should be the golden addition. ♪ so... [ gasps ]
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>> breaking news on facebook which hit a lifetime low earlier today in's trading session. ceo mark zuckerberg in an sec filing said he has no plans to sell shares for at least 12 months. there are confirming 234 million shares will be available to the public as of october 29th. these are shares that are restricted stock units and stock options for employees within the company. they will be available again after they report earnings, set for october 23rd. they will become available to the public on october the 29th. zuckerberg will not sell any of his shares. melissa: when you add another 200 million, makes you wonder with further dilution will it take the stock to another leg down?
>> with mark zuckerberg and nonemployee directors were not waived so-called standoff agreement. they will not beable to sell right away. liz: in fact, can i say the bid and ask is 18 and above. the last trade was 17.73. looks like a slight bump on the news particularly that zuckerberg would not sell shares for 12 months. >> that's right. liz: let's take it off the desk. i doubt anybody at home grill ad burger this big over the holiday weekend. a minnesota casino cooked up a "guinness book of world records" cheeseburger. david: that is not it. liz: that is not it. the larger than life burger weighed a ton. 60 nounds bacon and. it was cooked in an oven powered by propane torches and they flipped it with the help of a crane. david: could betty white
make the dnc's day. some democrats are hoping she does. change.org are launching a petition to get the former golden girl star a speaking role. clint eastwood, quote, gave a bad name to older americans everywhere when he spoke to an empty chair at the rnc convention. of course i disagree wholeheartedly but that's what they think. so far the petition has already received over 3400 signatures. liz: time for three key things to watch. i disagree with him. david: go, clint. liz: nokia will unveil two windows 8 handsets that will reportedly have wireless technology and a new camera that will let you store 41 megapixels of data. the stock moved higher. are we finally seeing a real competitor, david, to the iphone? david: if we are, they will take it to the courts. gold ended the day at it best level in five months. the move